We all know it: exchanging currencies is expensive, regardless of how you do it. Especially so if you want to send it to another bank or overseas.

Almost all financial institutes we know charge fees on handling the transaction. They even use a worse exchange rate than the current market rate. Doing an exchange semester is expensive and it can be pleasant to at least save some money while shifting funds to your foreign bankaccount. See our other blogpost for more information on how to set that up.

A few years ago I was seeking a service to transfer money with minimal costs between different currencies. – Mike

Found one!

After a bit of research, TransferWise caught my attention pretty fast. Why?
Because I love great and simple design, easy-to-use-services and an uncomplicated way to get work done.

TransferWise Landing Page

A cool thing is the calculator right on the landing-page where the exchange rate, the fees 💸 and the expected amount of money to arrive is shown 💵 💶 💷 💴. This all can be done without registration.

How does it work?

I already mentioned the nice design and the easy way to use TransferWise.

  1. Enter the amount to transfer, the currency you hold and the one you want to send.
    You will instantly get the price and the exchange rate ( which sometimes is guaranteed for a couple hours).
  2. Enter the recipient and you’re almost done!
  3. This step is showing you all the details of your planned transaction to double-check.
  4. The last step is to choose your payment-method. You can either choose bank account, debit card, credit card or even Apple Pay!

It’s that easy!

What I really like is the rate tracker! – Mike

With the rate tracker powered by TransferWise it’s so easy to be up-to-date about the latest exchange rates and even receive a daily email about your most important currency pair. You even have the option to get notified once the currency pair reaches a two-weeks-high or even over your personal limit.

Transferwise-Rate-Tracker

Check out their website and their video where they show exactly how everything works! 🙂 Or get their iOS or Android App.

Cheers
Mike

Header Picture shot by Christine Roy

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